Last fiscal, India’s overall consumer market growth slipped to its lowest level in a decade, but top global fashion brands Zara, Marks & Spencer, Benetton, Levi’s and Tommy Hilfiger all posted anywhere between 14% and 42% year-on-year jump in their revenues, reports ET. And their base is not too low either; except Tommy, all others are Rs 500-crore-plus brands in India.
On the down side, not all of them are making money, partly because they kept their rates affordable and offered discounts to woo Indian consumers despite a falling rupee and rising input costs. Marks & Spencer Reliance India, which operates M&S stores in India, saw its losses soar 400% to Rs 87 crore last fiscal, while Inditex Trent Retail India, which runs Zara brand in the country, reported a one-third fall in its profits.
“We continue to invest into our stores, creating an inspiring shopping environment to showcase our latest international trends at competitive prices for our customers in India,” said Venu Nair, managing director at M&S Reliance. Here are the latest numbers available from these global brands in India…